SPECIAL DISTRIBUTION TO WPHC. Immediately after the Construction Loan Closing, the Company shall make a distribution to WPHC as a return of its capital in the amount allowed for such purpose under the terms of the Construction Loan.
Appears in 2 contracts
Samples: Assignment of Interest (Wellsford Real Properties Inc), Operating Agreement (Wellsford Real Properties Inc)
SPECIAL DISTRIBUTION TO WPHC. 10.3.1 Immediately after the Construction Loan Closing, the Company shall make a distribution to WPHC as a return of its capital in the amount allowed for such purpose under the terms of the Construction Loan.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Equity Residential Properties Trust), Pledge and Security Agreement (Wellsford Residential Property Trust)
